Filing a Tax Return Is Only the Tip of the Iceberg
Many business owners think an accountant’s job begins and ends with filing a tax return.
That might be true for some accountants, but it is far from the full picture of what good accounting support should look like.
Filing returns is important, but it is only the surface. Real value comes from what happens underneath and beyond compliance.
Let’s break down what a good accountant actually does and why choosing the right one makes such a big difference.
The Foundations: Day to Day Compliance
Before anything else, your business needs strong foundations. This is the compliance side of accounting, and it matters more than most people realise.
A good accountant helps with:
Setting up the right systems from the start
Connecting and managing accounting software
Handling HMRC and Companies House administration
Keeping records clean and accurate
Managing payroll and PAYE
Filing VAT returns correctly and on time
Making sure deadlines are never missed
This work keeps your business compliant, reduces risk, and prevents penalties. Without it, everything else becomes harder.
Compliance is not exciting, but it is essential.
Going Further: Tax Planning
Once the basics are in place, the real thinking begins.
Tax planning is about asking the right questions before decisions are made, not after the bill arrives.
This includes looking at things like:
Whether you are using the right VAT scheme
How profits are being reinvested
Whether allowances and reliefs are being used properly
How dividends and salary are structured
Whether future tax bills are planned for or guessed
Good tax planning is proactive. It helps you pay the right amount of tax at the right time, without nasty surprises.
Advisory: Using Numbers to Make Better Decisions
This is where many accountants stop, but where the best ones step in.
Advisory work means using your numbers to help you make decisions with confidence.
That includes:
Reviewing cash flow
Forecasting what is coming next
Spotting where money is leaking
Understanding how long your cash runway really is
Stress testing decisions before you make them
Instead of reacting under pressure, you start making choices based on facts. This is where businesses become calmer, more controlled, and more profitable.
Mentorship: Learning From Experience
One of the most overlooked benefits of working with a good accountant is perspective.
When you work with someone who sees hundreds of businesses, you benefit from that experience. You gain insight into what works, what does not, common mistakes, and the realities of scaling.
This guidance helps you avoid problems before they happen and gives you confidence that you are not navigating things alone.
Not every accountant offers this level of support. And that is why experiences vary so much.
It Is Not About Finding an Accountant
It is about finding a good one.
Someone who understands your business, challenges your thinking, plans ahead, and supports you beyond filing deadlines.
At Rhombus Accounting, we focus on building strong foundations, planning proactively, advising clearly, and supporting business owners as they grow.
If you want more than just a tax return filed once a year, we would love to help.
Meet Lewis
Lewis is a professional accountant and founder of Rhombus Accounting. He regularly shares his knowledge and best advice here on his blog and on other channels such as LinkedIn.
Book a call today to learn more about what Lewis and Rhombus Accounting can do for you.
